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FINANCIAL NEWS
Hyundai Heavy wins $1.6b contract in Saudi Arabia
16 Jun 2010
(MENAFN) A statement released by Hyundai Heavy Industries Co. said that the world?s largest shipyard has won a $1.6 billion order from Dhuruma Electricity Co. to build a power plant in Saudi Arabia, Yonhap reported.
Hyundai Heavy will build a 1,729-megawatt power plant in Dhuruma, 125 kilometers (78 miles) west of Riyadh by March 2013, the Ulsan, South Korea-based company said in the statement.
South Korean companies may win a record $70 billion in overseas orders this year, according to government estimates, helped by demand from the Middle East. Saudi Arabia, the Arab world?s biggest economy, plans to increase generating capacity as its population grows and industrial demand for power rises.
Saudi Arabia plans to spend $80 billion to raise its capacity and transmission network in the next decade as demand increases to 65,000 megawatts in 2018.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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